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Mortgage Originations: 2000-2006 - Economic Synopses

If the recent growth in mortgage originations reflects the decline in the interest rate, then mortgage originations might be expected to decline when the contract rate increases. Indeed, mortgage originations did decline when contract rates rose after 2003. However, the level of originations continued to remain higher on average than pre-2003 levels.

research.stlouisfed.org/.../economic-synopses/2008/08/01/mortgage-originations-2000-2006

The LIBOR-OIS Spread as a Summary Indicator - Economic Synopses

The LIBOR-OIS spread has been the summary indicator showing the “illiquidity waves” that severely impaired money markets in 2007 and 2008.

research.stlouisfed.org/.../2008/10/15/the-libor-ois-spread-as-a-summary-indicator

Global European Banks and the Financial Crisis - Review

This article reviews some of the recent studies on international capital flows with a focus on the role of European global banks. The authors present a revision to the commonly held “global saving glut” view that East Asian economies (along with oil-rich nations) were the dominant suppliers of capital that fueled the asset price boom in many parts of the world in the early 2000s. 

research.stlouisfed.org/.../review/2012/11/01/global-european-banks-and-the-financial-crisis

The Microfinance Revolution: An Overview - Review

The Nobel Prize committee awarded the 2006 Nobel Peace Prize to Muhammad Yunus and the Grameen Bank “for their efforts to create economic and social development from below.” The microfinance revolution has come a long way since Yunus first provided financing to the poor in Bangladesh.

research.stlouisfed.org/.../publications/review/2008/01/01/the-microfinance-revolution-an-overview

Corporate Response to Distress: Evidence from the Asian Financial Crisis - Review

This article provides a comprehensive examination of corporate responses to financial distress during an economy-wide crisis, specifically through the restructuring of assets (through asset sales, mergers, or liquidations) and/or liabilities. Using firm-level data from five countries hardest hit by the East Asian financial crisis of 1997-98, the authors contrast the effects that financial and corporate governance variables have on restructuring choices.

research.stlouisfed.org/.../